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Copper slides to one-month low on sluggish Chinese economy
Copper prices dropped to their lowest in over a month on Wednesday on worries about China’s economy after disappointing data and as investors came to terms with delayed interest rate cuts by the U.S. Federal Reserve. Three-month copper on the London Metal Exchange (LME) had lost 0.7% to $8,300 per metric ton by 1040 GMT after touching $8,258, the weakest since Dec. 7. Top metals consumer China slightly missed forecasts for economic growth, but more worrying were ominous numbers about the property sector, such as property sales measured by floor area plunging 23% in December. “There are still a lot of difficulties ... (full story)